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Taiwan’s inflation rate reaches 3.38% in April

The cost of eating out rose by its highest level in more than 13 years

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The inflation rate rose to 3.38% in April. 

The inflation rate rose to 3.38% in April.  (CNA photo)

TAIPEI (Taiwan News) — Taiwan’s inflation rate surged to 3.38% in April, its highest rate in more than nine years, the government announced Friday (May 6).

The rising cost of eating out played an important part in the latest Consumer Price Index (CPI) changes, with an increase of 5.56%, the highest since December 2008, CNA reported.

If the prices of fruit, vegetables, and energy products are not taken into account, the inflation rate amounted to 2.53%, still a rise compared to the same value for the previous month, according to the Directorate General of Budget, Accounting and Statistics (DGBAS).

The government department attributed price rises for fruit and vegetables to seasonal factors, while the higher cost of animal feed played a part in more expensive pork, chicken meat, and eggs.

As a result, the price of Asian-style breakfasts showed the largest increase, rising by 9.65%, followed by the 7.27% increase reported for Western-style breakfasts. Flour and bread products showed rises of more than 7%, the largest in more than a decade.

The war in Ukraine and Taiwan’s reliance on imports meant that inflationary pressure would remain high for the near future. Inflation was likely to remain above 3% in May though lower than in April, and would fall to a moderate level after a peak in the second quarter, the DGBAS predicted.